02.11.2021 – 08:14
Simon-Kucher & Partners
Bonn / Cologne (ots)
88 percent of German consumers have become more sustainable in their consumption behavior in recent years. This holds opportunities for the future for companies, but also new challenges. Because the clear signal from consumers is: sustainability will in future be the norm, not the exception.
The current Global Sustainability Study 2021 * by the strategy and marketing consultancy Simon-Kucher & Partners, which was carried out among more than 10,000 participants (including more than 1,000 in Germany) in 17 countries, shows: In recent years there has been a significant paradigm shift worldwide From the consumer’s point of view of sustainability – the “sustainability” aspect is becoming increasingly important in purchasing decisions.
Sustainability is important for all generations
74 percent of consumers in Germany state that they have changed their consumption behavior slightly to significantly more sustainability in the past five years. In comparison: the global average is 63 percent. The new sustainability awareness extends across all generations. The study shows, however, that the so-called baby boomers (born between 1946 and 1964) and Generation X (born between 1965 and 1975), each with 33 percent, are more likely to actively opt for sustainable purchase alternatives than the millennials (early 1980s to late 1990s) with 28 percent.
Sustainability is an important purchase criterion, but based on price and quality
For 58 percent of Germans, sustainability is a relatively to very important purchase criterion (consumers worldwide: 60 percent) and is therefore quite relevant, but remains subordinate to primary purchase criteria such as price and quality.
According to the results of the study, sustainability plays a major role in purchasing decisions in the energy / utility (75 percent), construction / house (64 percent), travel and tourism (63 percent), consumer goods (62 percent) and automotive (54 percent) sectors. a role. In the financial services sector (36 percent), on the other hand, the topic seems to be less important for consumers.
“The importance of sustainability in the purchasing process will continue to increase. Already today, half of consumers cite sustainability as one of the most important value drivers,” says Dr. Andreas von der Gathen, Co-CEO of Simon-Kucher. “Consumers’ expectations of sustainability are increasing: In the future, sustainability will be the norm, not the exception. Correspondingly, companies have to rethink and make it a central component of their value proposition.”
Sustainable products and services can cost more
On average, almost a third of respondents in Germany (worldwide: 34 percent) are willing to pay more for sustainable products or services, and those who are willing to spend more would on average pay a premium of 18 percent (worldwide: 25 percent ) accept. With this attitude especially the younger ones stand out in Germany.
In the consumer goods sector in particular (40 percent), consumers are willing to pay a premium for sustainable products or services, followed by automobiles, construction / house and energy / utilities (31 percent each). The willingness to pay more for sustainability is particularly pronounced in the consumer goods industry (40 percent), followed by automobiles, and lowest in financial services (28 percent).
* About the study: The Global Sustainability Study 2021 was carried out by Simon-Kucher & Partners in July 2021 and is based on panel data from Dynata, an independent market research institute. As part of the study, 10,281 consumers in 17 countries were surveyed: USA (N = 1,062), Germany (N = 1,022), Denmark (N = 771), Sweden (N = 757), Brazil (N = 539), China (N = 516), Japan (N = 516), Spain (N = 515), Switzerland (N = 514), Great Britain (N = 513), Australia (N = 510), Austria (N = 510), France (N = 510), Netherlands (N = 510), Norway (N = 506), Italy (N = 506), United Arab Emirates (N = 504), including representative rates for age, gender, neighborhood, educational level, employment status and income level. The study, which was designed to measure consumer attitudes towards sustainability, the importance of sustainability and willingness to pay for sustainability, focused on 17 different product / service categories from the following sectors: consumer goods and retail, automotive, travel and tourism, energy / utilities, financial services, and construction / household.
Simon-Kucher & Partners, Strategy & Marketing Consultants: The consulting work of Simon-Kucher & Partners is entirely geared towards TopLine Power®. According to several studies among German top managers (manager magazin, Wirtschaftswoche, brand eins), Simon-Kucher is the best marketing and sales consultant and a leader in pricing and value enhancement. The management consultancy is represented with over 1,600 employees in 41 offices worldwide.
Original content by: Simon-Kucher & Partners, transmitted by news aktuell